Relevance up to 08:00 2022-07-14 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Trend analysis (Fig. 1).
The pound-dollar pair may move upward from the level of 1.1885 (close of yesterday's daily candle) to 1.1928, the 23.6% retracement level (red dotted line). In case of testing this level, continued upward movement is possible with the target of 1.2006, the 38.2% retracement level (red dotted line). From this level, the price may move down.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – up;
- Fibonacci levels – up;
- Volumes – up;
- Candlestick analysis – up;
- Trend analysis – up;
- Weekly chart – up;
- Bollinger bands – down.
General conclusion:
Today the price may move upward from 1.1885 (close of yesterday's daily candle) to 1.1928, the 23.6% retracement level (red dotted line). In case of testing this level, continued upward movement is possible with the target of 1.2006, the 38.2% retracement level (red dotted line). From this level, the price may move down.
Alternative scenario: from the level of 1.1885 (close of yesterday's daily candle), the price may move upward to 1.1928, the 23.6% retracement level (red dotted line). In case of testing this level, a downward movement is possible with the target of 1.1806, the lower fractal (red dotted line). From this level, the price may move up.
Read more: https://www.instaforex.eu/forex_analysis/316016
